Ethereum

  • Ethereum's price has increased by 10.37% in the last 24 hours, currently standing at $2,112.95.
  • The trading volume has surged by 44.03%, amounting to $15,942,827,012 over the past day.
  • Ethereum is currently trading above its 200-day moving average, indicating that the bulls are in control.

As per the latest intel from CoinMarketCap, Ethereum's price has witnessed a remarkable surge in the past 24 hours. At present, the Ethereum price hovers around $2,112.95, indicating a substantial uptick of $198.47 or 10.37% compared to the previous day. 

Additionally, Ethereum's trading volume has experienced a remarkable surge, amounting to $15,942,827,012 over the past day, reflecting a remarkable increase of 44.03%. Notably, Ethereum's lowest and highest values over the last 24 hours were $1,910.81 and $2,126.32, respectively.

However, many investors and traders have been talking that this is just the beginning of the Ethereum bull run.

Upon examining the daily chart, it appears that Ethereum has reached its previous high, leaving the question of whether it will break out or decline in the hands of the market's current state. Nevertheless, it is worth noting that the Relative Strength Index (RSI) value is at 74 on the daily chart, indicating that the market is approaching the overbought zone.

Furthermore, Ethereum is currently trading above its 200-day moving average, signaling that the bulls are in the driver's seat. In the event that Ethereum surpasses its present high, we can anticipate a potential rally beyond the $2,200 mark.

Nevertheless, another conceivable scenario is that if the bears manage to suppress Ethereum's upward momentum and force it downwards, it could plummet to as low as $1,900 price level.